December 13, 2012

Company announcements: CIMBA40, CIMBC25, CCM, TAKAFUL, KUB, AXIATA, WEIDA, TOPGLOV, PJI

CIMBA40 - NET ASSET VALUE / INDICATIVE OPTIMUM PORTFOLIO VALUE

Announcement Type: General Announcement
Company NameCIMB FTSE ASEAN 40 MALAYSIA  
Stock Name CIMBA40  
Date Announced13 Dec 2012  
CategoryGeneral Announcement
Reference NoOB-121213-47056

TypeAnnouncement
SubjectNET ASSET VALUE / INDICATIVE OPTIMUM PORTFOLIO VALUE
DescriptionFund: CIMB FTSE ASEAN 40 Malaysia
Date: 13-Dec-2012
IOPV per unit (RM): 1.6548
Units in circulation (units): 8,100,000.00
Management Fee (% p.a.): 0.00
Trustee Fee (% p.a.): 0.08
Index Licence Fee (% p.a.): 0.00
FTSE/ASEAN 40 Index: 11,108.53



CIMBC25 - NET ASSET VALUE / INDICATIVE OPTIMUM PORTFOLIO VALUE

Announcement Type: General Announcement
Company NameCIMB FTSE CHINA 25  
Stock Name CIMBC25  
Date Announced13 Dec 2012  
CategoryGeneral Announcement
Reference NoOB-121213-47010

TypeAnnouncement
SubjectNET ASSET VALUE / INDICATIVE OPTIMUM PORTFOLIO VALUE
DescriptionFund: CIMB FTSE China 25
Date: 13-Dec-2012
IOPV per unit (RM): 0.9406
Units in circulation (units): 29,250,000.00
Management Fee (% p.a.): 0.60
Trustee Fee (% p.a.): 0.08
Index Licence Fee (% p.a.): 0.04
FTSE/Xinhua China 25 Index: 17,144.07



CCM - Changes in Sub. S-hldr's Int. (29B) - EMPLOYEES PROVIDENT FUND BOARD

Announcement Type: Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Company NameCHEMICAL COMPANY OF MALAYSIA BERHAD  
Stock Name CCM  
Date Announced13 Dec 2012  
CategoryChanges in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Reference NoCC-121213-50030

Particulars of substantial Securities Holder

NameEMPLOYEES PROVIDENT FUND BOARD
AddressTingkat 19, Bangunan KWSP, Jalan Raja Laut, 50350 Kuala Lumpur
NRIC/Passport No/Company No.EPF ACT 1991
Nationality/Country of incorporationMalaysia
Descriptions (Class & nominal value)Ordinary Shares of RM1.00 each
Name & address of registered holderCitigroup Nominees (Tempatan) Sdn Bhd
Level 42, Menara Citibank
165 Jalan Ampang
50450 Kuala Lumpur

Details of changes

Currency: Malaysian Ringgit (MYR)

Type of transactionDate of change
No of securities
Price Transacted (RM)
Disposed07/12/2012
293,800
 

Circumstances by reason of which change has occurredDisposed
Nature of interestDirect
Direct (units)36,067,200 
Direct (%)8.91 
Indirect/deemed interest (units) 
Indirect/deemed interest (%) 
Total no of securities after change35,773,400
Date of notice10/12/2012

Remarks :
1. Disposal of 293,800 shares from Citigroup Nominees (Tempatan) Sdn Bhd for Employees Provident Fund Board.

2. The total number of 35,773,400 ordinary shares of RM1.00 each are held as follows:-

(a) 34,273,400 ordinary shares of RM1.00 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd for Employees Provident Fund Board of Level 42, Menara Citibank, 165 Jalan Ampang, 50450 Kuala Lumpur.

(b) 1,500,000 ordinary shares of RM1.00 each are registered in the name of Employees Provident Fund Board of Tingkat 19, Bangunan KWSP, Jalan Raja Laut, 50350 Kuala Lumpur.

The Notice of Change in the Interest of Substantial Shareholder was received by the Company Secretarial Department on 13 December 2012.


TAKAFUL - Changes in Sub. S-hldr's Int. (29B) - EMPLOYEES PROVIDENT FUND BOARD

Announcement Type: Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Company NameSYARIKAT TAKAFUL MALAYSIA BERHAD  
Stock Name TAKAFUL  
Date Announced13 Dec 2012  
CategoryChanges in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Reference NoST-121213-35617

Particulars of substantial Securities Holder

NameEMPLOYEES PROVIDENT FUND BOARD
AddressTINGKAT 19, BANGUNAN KWSP, JALAN RAJA LAUT, 50350 KUALA LUMPUR
NRIC/Passport No/Company No.EPF ACT 1991
Nationality/Country of incorporationMALAYSIA
Descriptions (Class & nominal value)ORDINARY SHARES OF RM1.00 EACH
Name & address of registered holderCITIGROUP NOMINEES (TEMPATAN) SDN BHD
LEVEL 42, MENARA CITIBANK, 165 JALAN AMPANG
50450 KUALA LUMPUR

Details of changes

Currency: Malaysian Ringgit (MYR)

Type of transactionDate of change
No of securities
Price Transacted (RM)
Disposed10/12/2012
10,300
 

Circumstances by reason of which change has occurredDisposal
Nature of interestDirect
Direct (units) 
Direct (%) 
Indirect/deemed interest (units) 
Indirect/deemed interest (%) 
Total no of securities after change13,538,920
Date of notice11/12/2012

Remarks :
The Notice of Changes in Substantial Shareholder's Interest (Form 29B) was received on 13 December 2012.


KUB - MEMORANDUM OF UNDERSTANDING

Announcement Type: General Announcement
Company NameKUB MALAYSIA BERHAD  
Stock Name KUB  
Date Announced13 Dec 2012  
CategoryGeneral Announcement
Reference NoKM-121212-18E4C

TypeAnnouncement
SubjectMEMORANDUM OF UNDERSTANDING
DescriptionMEMORANDUM OF UNDERSTANDING BETWEEN KUB AGROTECH SDN BHD AND SUTRACOM SDN BHD IN RELATION TO THE DEVELOPMENT OF PALM OIL MILL IN MUKAH, SARAWAK
Introduction
KUB Malaysia Berhad (“KUB” or “the Company”) is pleased to announce that KUB Agrotech Sdn Bhd (“KUBA”), a wholly owned subsidiary of KUB, has on 13 December 2012, entered into a Memorandum of Understanding (“MOU”) with Sutracom Sdn Bhd (“Sutracom”) to develop a palm oil mill in Mukah, Sarawak for the processing of fruit fresh bunch and producing crude palm oil and palm kernel and such other viable projects as may be mutually agreed between the Parties from time to time during the validity of the MOU.

Information on KUBA

KUBA, a company incorporated in Malaysia on 5 May 1979 under the Companies Act, 1965. KUBA is engaged in, amongst others, cultivation of oil palm, management of oil palm estates and other agro business related activities.

Information on Sutracom

Sutracom, a company incorporated in Malaysia on 18 July 1985 under the Companies Act, 1965. Sutracom is involved in civil and buildings construction works and possesses the necessary skills, technical know-how and expertise in the design, implementation and construction of civil and buildings works.

Salient Terms of MOU

KUBA and Sutracom (the “Parties”) shall combine their resources and expertise to explore, propose and develop palm oil mill(s) and such other viable projects as may be mutually agreed between the Parties from time to time.

The Parties shall share industry know-how, business networks and professional expertise in pursuing the relevant Projects.

The MOU shall be governed by definitive and binding legal agreements, to be negotiated between the Parties.

The MOU shall takes effect from the date of execution thereof and shall remain in full force until the earlier of the following:
(a) the execution of a definitive agreement between the Parties; or
(b) the expiration of one (1) year from the date hereof without any relevant Projects having materialized; or
(c) the Parties being unable to agree on the terms of any material aspect of any relevant Projects; or
(d) the termination in writing by the Parties by giving to the other party 1 (one) month written notice to such effect.

The Parties may by mutual agreement in writing renew the term of this MOU for a further one (1) year term upon expiry thereof upon such terms and conditions to be agreed upon.

This announcement is dated 13 December 2012.



AXIATA - OTHERS AXIATA GROUP BERHAD ("AXIATA") - ACQUISITION BY AXIATA INVESTMENTS (CAMBODIA) LIMITED OF THE ENTIRE SHARES IN ISSUE OF GLASSWOOL HOLDINGS LIMITED

Announcement Type: General Announcement
Company NameAXIATA GROUP BERHAD  
Stock Name AXIATA  
Date Announced13 Dec 2012  
CategoryGeneral Announcement
Reference NoAG-121213-F8D76

TypeAnnouncement
SubjectOTHERS
DescriptionAXIATA GROUP BERHAD ("AXIATA") - ACQUISITION BY AXIATA INVESTMENTS (CAMBODIA) LIMITED OF THE ENTIRE SHARES IN ISSUE OF GLASSWOOL HOLDINGS LIMITED
INTRODUCTION
We are pleased to announce that Axiata Group Berhad and its wholly-owned subsidiary, Axiata Investments (Cambodia) Limited (“AIC”) have on 13 December 2012 entered into a Sale and Purchase Agreement (“SPA”) with Timeturns Holdings Limited (“Timeturns”) for the acquisition of the entire ordinary shares in issue (“Purchased Shares”) of Glasswool Holdings Limited, (“Glasswool”), which will be the owner of the entire ordinary shares in issue of Latelz Co. Ltd. (“Latelz”) in Cambodia (“Acquisition of Latelz”) upon completion of the Acquisition of Latelz.

INFORMATION ON THE COMPANIES

AIC

AIC was incorporated on 7 December 2012 in the Federal Territory of Labuan, Malaysia as an investment holding company. AIC was incorporated with an authorised share capital of USD100,000.00 divided into 100,000 ordinary shares. The issued and paid-up share capital of AIC is currently USD2.00 divided into 2 ordinary shares of USD1.00 each.

Glasswool

Glasswool was incorporated on 12 November 2012 in the Federal Territory of Labuan, Malaysia to engage in offshore trading and investment holding activities. The issued and paid-up share capital of Glasswool is currently USD2,000.00 divided into 2,000 ordinary shares of USD1.00 each.

Timeturns

Timeturns is a company based in Cyprus which owns several telecommunication operators and licenses within Asia and Africa. In Cambodia, Timeturns, through Latelz, owns licenses to act as mobile telecommunication operator and internet provider. Latelz launched its commercial operations in mid-February 2009 and subsequently acquired Applifone Co. Ltd in December 2010 which had the commercial brand of StarCell. Based on the latest records of the Ministry of Posts and Telecommunications of Cambodia (“MPTC”), Latelz currently operates under the brand name of ‘Smart Mobile’ and holds GSM license with 15MHz GSM1800 and 3.6MHz GSM900, 3G license with 10MHz UMTS2100 and ISP license with 70MHz WiMAX. The Latelz network coverage stretches nationwide to all 24 provinces, and its 3.75G network is available in all 24 provinces of Cambodia.

SALIENT TERMS OF THE ACQUISITION OF LATELZ

The transaction will involve AIC acquiring Glasswool, which will be the sole owner of Latelz upon completion of the transaction. Subsequently, it is Axiata’s intention to merge the operations of Hello and Latelz as one combined entity. The acquisition will be settled via a cash consideration of approximately USD155 million (subject to adjustments for the actual net debt and working capital positions as of the date of completion) as well as a 10% stake in the combined entity, with Axiata ending up with a 90% stake in the merged company. The 10% stake will be held by the remaining partner. The transaction, with an implied enterprise value of USD180 million, will be funded via a combination of internal cash and debt from existing financial facilities.

The Acquisition of Latelz shall be subject to various completion items which shall include but not limited to customary regulatory approvals of similar nature from MPTC, Council for the Development of Cambodia and Ministry of Commerce, amongst others. The SPA provides for the completion of the Acquisition of Latelz to be on or before 31 March 2013, or such later date that the parties may agree.

RATIONALE FOR THE ACQUISITION OF LATELZ
  • Consolidation

The Cambodian market is primed for consolidation with 9 mobile players in a country with a population of approximately 15 million and with the Acquisition of Latelz, Axiata will have a head start with a significantly strengthened entity and clear market leadership.
  • Synergies
The merger will provide Axiata with improved economies of scale, remove duplicative costs and enhance revenue potential, amongst other benefits. The merged company will also facilitate synergies and the sharing of best practices between Latelz and Hello including increased spectrum and significant synergies across network coverage and infrastructure. In a highly competitive market, the merger will give Axiata the benefit of scale with a quicker and more cost effective time to market than via organic growth. Smart Mobile operates on a cost efficient model with its strong brand, nationwide reach and customer service focus. Smart Mobile and Hello were amongst the top performers in the market over the last year (from Q2 2011 to Q2 2012), with both players more than doubling their respective subscriber market shares and the average quarterly EBITDA in 2012 more than quadrupling for each company as compared to that in 2011. The combined company will, therefore, emerge as one of the largest players in the market, with a strong balance sheet, the highest number of retail outlets to serve customers and stronger network coverage with the largest 3G network in Phnom Penh.
  • In Line with Axiata’s Long Term Strategy and Financial Objectives
In-country consolidation is a key focus for Axiata Group and this strategic move is very much in line with that strategy. The merger will significantly enhance Axiata’s position to a stronger growth platform whilst also establishing a strong beachhead for the Group in Indochina, a focus region for expansion. The combined entity is expected to become earnings accretive for Axiata within the first year of operations.

SOURCE OF FUNDS

The Acquisition of Latelz will be financed by Axiata’s internal generated funds and/or existing financing facilities.

FINANCIAL EFFECTS

The Acquisition of Latelz does not have any effect on the issued and paid-up share capital and earnings of Axiata and is not expected to have any material effect on the gearings and net assets of the Axiata Group for the financial year ending 31 December 2012.

APPROVALS OF SHAREHOLDERS

The Acquisition of Latelz is not subject to the approval of the shareholders of Axiata.

DIRECTORS’ AND MAJOR/SUBSTANTIAL SHAREHOLDERS’ INTEREST

None of the Directors, major shareholders of Axiata and/or persons connected to them has any direct or indirect interest in the Acquisition of Latelz.

Media release on the Acquisition of Latelz is provided below.

This announcement is dated 13 December 2012.


WEIDA - MONTHLY PRODUCTION FIGURES (MINING / PLANTATION / TIMBER)

Announcement Type: General Announcement
Company NameWEIDA (M) BHD  
Stock Name WEIDA  
Date Announced13 Dec 2012  
CategoryGeneral Announcement
Reference NoCC-121210-C74AD

TypeAnnouncement
SubjectMONTHLY PRODUCTION FIGURES (MINING / PLANTATION / TIMBER)
DescriptionPRODUCTION FIGURES OF THE GROUP FOR THE MONTH OF NOVEMBER 2012
In accordance with Paragraph 9.36 of the Main Market Listing Requirements, Weida (M) Bhd wishes to announce that the plantation production figures for Fresh Fruit Bunches of the Group for the month of November 2012 was as follow:
Fresh Fruit Bunches
Metric tonne
Scout harvesting
158.15
Matured harvesting
1,044.36


TOPGLOV - Quarterly rpt on consolidated results for the financial period ended 30/11/2012

Announcement Type: Financial Results
Company NameTOP GLOVE CORPORATION BHD  
Stock Name TOPGLOV  
Date Announced13 Dec 2012  
CategoryFinancial Results
Reference NoTG-121203-33639

Financial Year End31/08/2013
Quarter1
Quarterly report for the financial period ended30/11/2012
The figureshave not been audited
  • Default Currency
  • Other Currency

Currency: Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION
30/11/2012

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30/11/2012
30/11/2011
30/11/2012
30/11/2011
$$'000
$$'000
$$'000
$$'000
1Revenue
584,575
554,843
584,575
554,843
2Profit/(loss) before tax
70,383
41,591
70,383
41,591
3Profit/(loss) for the period
58,896
32,455
58,896
32,455
4Profit/(loss) attributable to ordinary equity holders of the parent
57,492
31,432
57,492
31,432
5Basic earnings/(loss) per share (Subunit)
9.29
5.08
9.29
5.08
6Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00


AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7
Net assets per share attributable to ordinary equity holders of the parent ($$)
2.1700
2.0700
Definition of Subunit:

In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit.
Example for the subunit as follows:

CountryBase UnitSubunit
MalaysiaRinggitSen
United StatesDollarCent
United KingdomPoundPence


PJI - Change in Boardroom (Amended Announcement)

Announcement Type: Change in Boardroom
Company NamePJI HOLDINGS BERHAD  
Stock Name PJI  
Date Announced13 Dec 2012  
CategoryChange in Boardroom
Reference NoCC-121213-BB0B6

Date of change12/12/2012
NameWong Thiam Fook
Age45
NationalityMalaysian
Type of changeRetirement
DesignationNon-Executive Director
DirectorateNon Independent & Non Executive
Qualifications 
Working experience and occupation  
Directorship of public companies (if any)Nil 
Family relationship with any director and/or major shareholder of the listed issuerNil 
Any conflict of interests that he/she has with the listed issuerNil 
Details of any interest in the securities of the listed issuer or its subsidiaries(1) Wong Thiam Fook's direct interest in PJI Holdings Berhad:-

(i) Name of Registered Holder - Wong Thiam Fook (20,603,000 shares or 3.38%)

(ii)Name of Registered Holder - JF Apex Nominees (Tempatan) Sdn. Bhd. (4,014,000 shares or 0.66%)

Total no. of shares : 24,617,000 shares or 4.04%

(2)Wong Thiam Fook's indirect interest via his spouse, Chua Chor Ing's direct shareholding in PJI Holdings Berhad:-

(i) Name of Registered Holder - Chua Chor Ing (700,000 shares or 0.11%)

(ii)Name of Registered Holder - JF Apex Nominees (Tempatan) Sdn. Bhd. (2,617,000 shares or 0.43%)

Total no. of shares : 3,317,000 shares or 0.54% 

Remarks :
The directorate of Mr Wong Thiam Fook should be Non Independent & Non Executive Director.


PJI - Change in Audit Committee (Amended Announcement)

Announcement Type: Change in Audit Committee
Company NamePJI HOLDINGS BERHAD  
Stock Name PJI  
Date Announced13 Dec 2012  
CategoryChange in Audit Committee
Reference NoCC-121213-BB0C3

Date of change12/12/2012
NameWong Thiam Fook
Age45
NationalityMalaysian
Type of changeCessation of Office
DesignationMember of Audit Committee
DirectorateNon Independent & Non Executive
Qualifications 
Working experience and occupation  
Directorship of public companies (if any)Nil 
Family relationship with any director and/or major shareholder of the listed issuerNil 
Any conflict of interests that he/she has with the listed issuerNil 
Details of any interest in the securities of the listed issuer or its subsidiaries(1) Wong Thiam Fook's direct interest in PJI Holdings Berhad:-

(i) Name of Registered Holder - Wong Thiam Fook (20,603,000 shares or 3.38%)

(ii)Name of Registered Holder - JF Apex Nominees (Tempatan) Sdn. Bhd. (4,014,000 shares or 0.66%)

Total no. of shares : 24,617,000 shares or 4.04%

(2)Wong Thiam Fook's indirect interest via his spouse, Chua Chor Ing's direct shareholding in PJI Holdings Berhad:-

(i) Name of Registered Holder - Chua Chor Ing (700,000 shares or 0.11%)

(ii)Name of Registered Holder - JF Apex Nominees (Tempatan) Sdn. Bhd. (2,617,000 shares or 0.43%)

Total no. of shares : 3,317,000 shares or 0.54% 
Composition of Audit Committee (Name and Directorate of members after change)Encik Rezal Zain Bin Abdul Rashid (Chairman & Independent Non-Executive Director)
Mr. Thye Fook Keong(Independent Non-Executive Director)
Mr. Lim Choong Yik (Independent Non-Executive Director)

Remarks :
The directorate of Mr Wong Thiam Fook should be Non Independent & Non Executive Director.


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